On Thursday, the private CA-based electronics company Belkin announced their plans of buying out Cisco‘s home network division. The agreement states that Belkin will undertake all of Cisco’s Home Networking Business Unit, which includes all products in that category, technologies, employees and the popular Linksys brand.
The Linksys brand will remain as is and Belkin will offer support for Linksys products, as per the business contract. Belkin will also honor all valid Linksys warranties.
“We’re very excited about this announcement,” said Chet Pipkin, CEO of Belkin. “Our two organizations share many core beliefs — we have similar beginnings and share a passion for meeting the real needs of our customers through the strengths of an entrepreneurial culture. Belkin’s ultimate goal is to be the global leader in the connected home and wireless networking space and this acquisition is an important step to realizing that vision.”
The two companies “intend to develop a strategic relationship on a variety of initiatives including retail distribution, strategic marketing and products for the service provider market,” writes Belkin’s press release.
At the close of the deal, Belkin will represent roughly 30-percent of the U.S. retail home and small business networking market. The transaction is expected to officially roll out in March of 2013.